Loans, a practice we brought to light last year with a series of stories, including a cover of businessweek on how an obscure legal document turned the court system into a Debt Collection machine. We will take a look at the new legislation and its impact. Carol plus, porsche unveiling its first ever electric car in a battle to steal the market that tesla built. We go outside our headquarters for a look at the taycan turbo. Jason our big story of the week, brexit. Boris johnson boxed in and humiliated by his parliament. Strategy to exit the e. U. Was derailed and his plan for a general election was rejected. Carol what a week. Having bet everything on getting britain out of the European Union by october 31, now he really cant back down. Lets bring in our editor from london on whats next for the u. K. Prime minister and if he will need to delay brexit. Good to have you with us. What a week it was for Boris Johnson. How weakened is he as leader of the u. K. . Boris johnson is completely trapped. He has been british Prime Minister only six weeks and has already discovered that there is not a great deal that he can do. He is in charge of a government that has no majority at all in the house of commons, because not least, he decided to fire 21 members of his own party. He refused to follow his who refused to follow his instructions. It is an extremely difficult situation for him. He has lost all authority. He has to hope the country gives him a majority in parliament and a new mandate. He tried to do that this week and could not even get the election he wanted. He will try next monday to get the election in another vote in the commons. We will see if he gets any further this time. Jason what was the biggest miscalculation that he made . He obviously swept in with his traditional bravado, essentially saying, this is going to happen, i am going to make it happen. But what was the mistake that he made . I think johnson is it remains to be seen whether any of this is a mistake. It is still technically possible he pulls off a miracle and somehow manages to get a deal out of the European Union before october 31 or indeed gets his election and comes back with a majority from the country and takes the u. K. Out with no deal. We have to reserve judgment a little bit at this stage, but right now, i think the clear truth is that he has boxed himself into a corner by promising doordie to get the u. K. Out of the e. U. On october 31. That has given him no real room to maneuver. It was important to get him elected as tory leader and u. K. Prime minister back in the summer. But it has meant he has really got no flexibility at all. Carol what does it mean for the u. K. Public . Im curious where they weigh in on brexit at this point. The country is completely divided. Ever since the 2016 referendum, the u. K. Has been pretty much split down the middle on brexit. And attitudes have not changed a great deal in that period. You can see on the one hand, those eurosceptic, antie. U. Proleave voters are still pretty keen to get on with it. Some people still think the u. K. Should stay in. Its poison politics, i think its fair to say. In terms of the election, if Boris Johnson does get his election, its far from clear if he will get the majority wants. These things can be very unpredictable. That kind of gamble can easily backfire. Any time you meddle with the british democracy or any democracy, its difficult to know how it will pan out. Jason amid all of this drama, in the you cant make it up category, his own brother quit the parliament, right . What was behind that . Yes, the Johnson Family is an extraordinary drama in its own right. Boris johnsons brother, jo johnson, was a minister and a member of parliament in the party. Very highly regarded, much quieter, softspoken, just liked to get on with his job pretty privately. Much different character. Personality wise, they were very different people. But jo johnson decided he could not any longer serve in the government or in the same parliament as his brother because he disagreed so strongly with Boris Johnsons brexit policy. He thought it would be bad for the country to leave with no deal. And so, Boris Johnson has suffered that personal as well as professional blow as well on top of Everything Else this week. Carol cant wait for the holidays to come around and they are together around the family table for dinner. One last question. I am curious about, can we say that we will know in a few months ultimately whether or not the u. K. Will be in or out of the European Union . In a way, it comes down to the e. U. As well. Will they decide that they have run out of patience . Will president macron say we cannot keep delaying brexit, we cannot keep being held hostage by the british . We have to just get rid of them and get them out . I think thats a question that will come up in the weeks ahead running up to the next european summit. Ultimately, it could go on for many months. If this delay goes through at the end of october, there could be another one, and another one, and another one until eventually perhaps you might have to go for another referendum just to settle it once and for all. Jason thank you so much. A great update on what is going on in london. Never a dull moment. We turn now to businessweeks special double issue, the elements, an indepth look at all of the elements of the periodic table and their connections to business. Carol lets check in with editor joel weber on why he put them on the cover. Joel we decided to cover every single element on the periodic table because ultimately, these are all business stories. This is the story of business. Carol you took us places i think there were a lot of surprises for us. I think we think of the periodic table as, all right, it was developed a long time ago. It is old. Its such a bigger, broader thing. It means a lot today. Joel thats the wrong way to think about it. If you associate it with High School Chemistry class and get a little anxiety about that, forget about it. We wanted to make this fun. Things like helium, party city was Closing Stores because there is a helium shortage. And yet, entrepreneurs are trying to solve that problem. Or lithium, and you think about Battery Technology and what electric vehicles are going to be possible, or hydrogen for that matter. Every one of these things and things we take for granted, like a computer chip, and how many elements are required to actually make this. They are kind of hidden in plain sight and yet they are absolutely fundamental to the modern economy and the future of business. Jason and coming up, we will bring you more on why matter still matters. We dig into the periodic table on its 150th anniversary and the connection between the elements and business. It is only getting stronger. Carol plus, we have a look at the history and the chemist behind the table. Why he is regarded as an inventor today and why this year is being celebrated as the International Year of the periodic table. Jason this is Bloomberg Businessweek. Jason welcome back to Bloomberg Businessweek. I am jason kelly. Carol and i am carol massar. Join us for Bloomberg Businessweek every day on the radio starting at 2 00 p. M. Wall street time. You can also check out our podcasts on apple podcasts and soundcloud and bloomberg. Com. Jason you can find us online at businessweek. Com and through our mobile app. Lets head back to businessweeks special double issue on the elements. Carol here is economics editor peter coy with his remarks. Why the periodic table of elements is more important than ever on its 150th anniversary. Peter really, it is an economic story. Of course i think of everything , as an economic story, but reasonably speaking, the economy is built on the periodic table. We live with carbon, silicon, nitrogen, phosphorus, i can go on and on. And after all, everything in the world is built from these elements in the periodic table. And we think of the world sometimes as being virtual these days. We think of software, patents, copyrights. Carol something in the cloud, whatever the heck that means. Like the value is virtual. But in fact and thats true, i wont deny that all of these things are important, but what are they built on . What does software run on . Computers. What are computers . Hardware. Hardware is made from the elements of the periodic table. Carol what i think is fascinating about this issue, here we are celebrating the 150th anniversary of the periodic table, and your point is that it is more important than ever before. It may seem and feel so yesterday, but its really relevant and important. Peter what fascinated me as i was working on this story is how the periodic table has been exploited. So as technology advances, we get more and more we, the experts, not i, get more and more precise about formulations, finding the exact right pinch of this, pinch of that. Semiconductors, for example. Integrated circuits. They have many layers. Each one is a different composition tweaked for optimal performance. You have arsenic. We think of arsenic as poison, it is used for highspeed chips. Silicon is doped with various elements. As society advances, as technology advances, we use more and more of the elements in the periodic table. And this project is fascinating because we list all of them. There is a few, at the far end, the high numbers which really have no uses, but the majority are actually being used in some crazy way or another. Jason one of the examples that you give that really brought it home for me is the cell phone. You think about the evolution of that piece of machinery. One of the ways you can track the evolution is the number of different elements ultimately that are used in the modern cell phone, especially versus how they were originally conceived. Carol i believe it is 75. Peter yeah. We are talking about some that are almost invisible in terms of how much they are being used. But i have another analogy which i will claim credit for, even though somebody else has the idea. The human body. The human body in a sense was our first factory. It takes in inputs and produces outputs. The human body and not just the human body, but the evolution of all the different species over millions and billions of years has found ways to take elements from the environment and incorporate them into our own flesh. And there are some exotic examples like in the human eye, elements being used in parts of the bones, the brain. What we are doing as a Technological Society is sort of duplicating, going beyond what evolution has done for our own body. Carol i also think whats interesting and as you mentioned the cell phone example and there are so many different elements within the cell phone. This whole idea of where we are as a society today, that it takes so much to build this great product that we use all the time. But that also creates this supply chain that reminds us how we are interconnected. Peter its the story of globalization. Going back to the original question, why are we writing about this . We write about globalization all the time. I cannot think of a better example of globalization than this. These wartorn countries in africa are incredibly vital sources of some of the elements that are used in cell phone products. We think about conflict diamonds, but there are conflict minerals as well. And we have this fight now over the rare earth elements. Jason part of the trade war, ultimately, in some form or fashion is steeped in the tensions between the u. S. And china. Peter china is the worlds leading producer of rare earth, which are not actually rare as far as their percentage of the earths crust, but they are increasingly hard to get. Carol for more on the history of the systematic and predictive periodic table jason and to put into perspective, here is the editor behind the issue, we call him the architect, jeremy king. Jeremy a siberian fellow. As most scientists do, he went to School Elsewhere in europe, came back home working out of st. Petersburg. And there was a lot of discussion in the Scientific Community at that time about, what are the Building Blocks of matter . Why do some substances resemble others . Why do they behave the same way . There was this idea of periodicity, that you could order them in a way that showed how certain elements were like other ones. Others were trying to crack this and produce something that looked logical and sort of importantly, with science, you have a hypothesis, you want it to be tested by others. They can independently say like, yes, this is scientifically sound. He produced a table that showed the periodicity of the elements, for example, why carbon and silicon behave the same way. They are vertically aligned on the table. He predicted certain holes where we had not discovered the element. Carol isnt that crazy . He left openings because he knew there was more to come. Jeremy germanium is an example of one that they discovered. They were like, that is where that goes. Jason it fits there. Jeremy yup. Thats what sort of gave it its power and others began to use it as a reference point. This helped kick off an era of Industrial Chemistry and a new appreciation of the way the Natural World works. Jason for those of us that dont remember as well our High School Chemistry days, how is it organized . I mean, what is the periodicity you are talking about . Jeremy ok, so you know the way the table looks. Ape. As this kind of ush it starts at hydrogen. So your columns, you have it starts to get into the Building Blocks, you have an atom, proton, and electron, and there are neutrons as well. The proton, it is all numbered one through 118. And then, you have the electrons that circle around. Going from column to column, the number of electrons in the outer layer is similar. Thats why you can get, on two sides you have sodium, alkaline, and chlorine on the other side and together then they make salt. Or potassium and iodine, which are on the same rows below, they bind together. You can get potassium iodine tablets to protect you from radiation. Carol there is a real logic in understanding. He added some rows below because he did not want the chart to get too wide. Jeremy that came later, but it was certainly possible at the time. You have the rows. Most of the rare earths go there. Below that, you have the sort of Nuclear Radioactive elements that go below that. Carol but it has not changed much, right . I think he died in the early 1900s and it has not changed much. Some tweaks, correct . Jeremy it has been updated. The basic shape has been adjusted. The original table was a series of text. The squares and that kind of thing and the way that we think about the groupings was not necessarily pinned down at that time. Again, it sort of shows the power of what he did at that time. You could still discover more about the periodic table. Jason coming up, oil industry critics fixate on Carbon Emissions and with good reason. Carol they do indeed, but there is another problem, sulfur. Jason more from our special double issue, the elements. This is Bloomberg Businessweek. Jason welcome back to Bloomberg Businessweek. I am jason kelly. Carol and i am carol massar. You can also listen to us on the radio on sirius xm channel 119 and in new york, boston, washington, d. C. Jason am 960 in the bay area, and london on dab digital and through the Bloomberg Business app. On the 150th birthday of the periodic table, businessweek explores why it is arguably the greatest work chart in business history. Carol it is a special elements issue that covers all of the elements, including sulfur. Here is this weeks businessweek explainer on the oil industrys other problem. Everything from acid rain to lung cancer. One gallon of high sulfur fuel used in most ships contains as much sulfur as 3500 gallons of gasoline. The International Maritime organization has tried to come to the rescue. Three years ago, the group issued rules designed to cut emissions of sulfur oxide by up to 77 . But making the rules is just a start. Many refiners will have to change their equipment and processes or buy different types of crude. Some shipowners will continue buying the old, dirtier fuel. And they will install scrubbers on board vessels. The new fuel will be pricier. It is estimated that sending a supertanker of crude from saudi arabia to houston could cost 1 million more compared to a vessel still using the old, dirtier stuff. One study estimates that by 2025, the lower sulfur emissions will prevent more than half a million premature deaths from lung cancer and Heart Disease. For more on high sulfur fuel and how shipowners are expected to comply with the new rules carol here is our reporter in london. A few years ago, a branch of the u. N. Called the International Maritime organization, better known as the imo, made a rule basically saying that the sulfur content for most of the marine fuel around the world had to go down from 3. 5 to 0. 5 . Sounds pretty simple, but for the oil and maritime industry, that was a huge upheaval. Since then, we have been writing thousands of stories about how the different sectors are doing dealing with that transition. Carol talk to us a little bit about high sulfur fuel, what it is and why it is so bad. When you take a barrel of crude oil to an oil refinery, you will distill it, put it through various processes to make lots of more valuable fuels that we know as gasoline, diesel, jet fuel, and other things. Fuel oil is what is left over from that process effectively. It is the stuff that is not distill when you burn a barrel of crude in it is sort of seen as a waste product from the refining system and that is what goes into the worlds ships. Carol and it is dangerous from what i understand. It causes lung cancer, Heart Disease. This is pretty lethal stuff. It has certainly been linked to a number of health conditions, asthma, cancer. It has also been blamed for acid rain. Some Environmental Issues there as well. Also, there was a study which is referred to in the article. I believe it was submitted by finland to the imo. It shows that by bringing this regulation in by 2020 rather than 2025, there will be about half a million premature deaths from lung cancer and Heart Disease avoided. Jason you talk in your story about the fact that even if everyone agrees that this is the right thing to do, there are actually incentives for a lot of shipping companies out there to kind of look the other way and cheat the system. Tell us about that. The reason there is incentive to cheat is because the different fuels cost very different amounts. If you want to keep burning that high sulfur, dirty marine fuel that a lot of ships legitimately use now, that will cost you Something Like lets say 300 a ton. Whereas if you want to pay for the cleaner stuff, now we dont want to get too complicated, but there are different types of cleaner stuff. But roughly, you might pay 200 per ton or so more for the cleaner stuff. If you are burning say if you have a big ship like a giant oil tanker and are burning about 80 tons a day of marine fuel and you are saving 200 300 per ton and traveling all the way around the world, that adds up. Carol coming up, more on the elements. A different kind of inflation problem. The world is running out of helium, but two geologists might have a fix. Jason plus, a dangerous, different kind of liquid asset. Mercury in a growing number of beauty creams. It is a 20 billion market that has a big counterfeit problem. Carol it does indeed. This is Bloomberg Businessweek. From the couldnt be prouders to the wait did we just winners. Everyone uses their phone differently. Thats why Xfinity Mobile lets you design your own data. Now you can share it between lines. Mix with unlimited, and switch it up at anytime so you only pay for what you need. Its a different kind of Wireless Network designed to save you money. Save up to 400 a year on your wireless bill. Plus get 250 back when you buy a new samsung note. Click, call or visit a store today. Carol welcome back to Bloomberg Businessweek. I am carol massar. Jason and i am jason kelly. Still ahead, the sex and the city author has a new book. It is called is there still sex and the city . We sit down to talk about that and what has changed for single women in the me too era. Carol plus, the world debut of the new 150,000 porsche could be trouble for tesla. We caught up with the north america ceo. Jason but first, back to our special double issue on the elements. It covers all the elements, including helium. Carol the worlds helium stores are running low, prices are soaring, and its not just Party Balloons at risk. Here is jeff muskas on a different kind of inflation problem. Jeff pretty much all of the available helium comes from dozen daily fields, and about half of it from the u. S. And qatar. When there is an interruption iy supply, as there was during the qatar blockade, prices spiked dramatically. It is a bigger problem as the u. S. Government has wound down its supply of helium reserves , which had been a thing in the early 20th century. It went away at the end. Carol who knew that we had a bunch of reserves . Why did the government have those reserves . Jeff turns out, as early as the late 19th century, the government was betting heavily on the future being ruled by airships. Jason and hindenburg put an end to all of that. One of the things you point out theich i had no idea, among key uses of helium today. Arc welding, icbms and space travel. Space travel is certainly something on the minds of all of us, not just elon musk in the past few years. It is a billionaires favorite past time. It feels like this is something be even more could important going forward. This is that much more worrisome. Jeff yeah, i think thats right. In fact, nasa was the big reason for the feds holding on to their store of helium for the latter half of the 20th century. It was in the 1990s that Congress Said the private sector should be able to handle this as well as the public sectors massive subsidies, imposed a winding down proc federal stores, which then left the helium market with few controls when prices started jacking up. Carol tell us about the two individuals profiled in the story. The australian geologist who may have found a great well of helium. It also could be very dramatic in terms of changing the country where it is. Jeff yeah, josh and thomas, the guys who founded this Company Helium one have been former roommates in australia. Carol they went on a road trip. Jeff right, one invited another invited the other to come see where he had been hunting for gold claims in tanzania. The other guy found a book in a guidebook in the back of the truck while they were tooling around that seemed to suggest that parts of tanzania had off the charts levels of helium concentration. It is something that Mining Companies have ignored forever because helium is a byproduct of a more profitable natural gas. Although it is the second most abundant element in the universe, its hard to keep on earth. It tends to fly out into space if not contained. Companies for the most part have been happy to just let it do that. Carol continuing with the periodic table, we now turn to mercury. Its Poisonous Properties are legendary. You might remember, the mad hatter is mad because of a common compound used by hat makers that presumably ravaged his nervous system. Jason thats an amazing piece of trivia that i did not know. It is not just fiction, unfortunately. Men and women around the world are using skin lightning creams and soaps that are laced with poison, and regulators and advocates are just scratching the surface of a global mercury crisis. Here is vernon silver. Vernon there is in the markets of the developing world a problem with lowerpriced things with ingredients that are completely unclear to the consumer. In this particular case we went on essentially a raid in the philippines where we just went shopping and bought the stuff, bought various creams and sos, brought them back various s, and boughtap the stuff, brought them back to the offices of this ngo in manila and did a test. There is an xray gun that shoots rays at the jars and gets an instant result of showing what the mercury content is. Essentially there is a measurement. One part per unit is the borderline on what is safe. It has got to be less than one. We came up with numbers that were more than 20,000 times the fda safe limit. Jason how does this grow into this massive black market to get this into these products . Vernon mercury is cheap. You essentially get these big rocks, smash them up, and china is the biggest source of mercury compounds. It has turned into a powder that can be exported anywhere. And because it actually works, it makes its way into these products as a cheap lightening agent. In this particular case what we did was find packages that tested positive to the extreme, brands that were fairly wellknown for the antimercury advocates out there and went up the chain. One brand we looked at was said to be out of pakistan and we contacted them. Pakistan said, hey, how come you have got mercury . The answer was it must be a knockoff. You must be buying it counterfeit. That took us down the rabbit hole of what is real and what is not in the lightning cream market. Again, you are talking about parts of the world where regulation is not what is in the u. S. , the u. K. , or the eu, where you never quite know. Isbad. It seemed possible this was a knockoff, which sent us on another search of getting actual samples that the company said it was from them. It took weeks of thinking it was lost in the mail coming back. In the end, we got a result from the company themselves. Having it tested in pakistan, they sent us the results and said we are clean, no mercury in our official product. What you have in the philippines was a knockoff. Literally, as we were going to press, we got the official sample from the company in pakistan. Had it tested at the most reputable labs in hong kong, and it came up loaded with as much as 4000 times the fda limit. Carol still ahead, have a cover highway still ahead, how a cover story last year led to a new bill signed by Governor Cuomo. Jason its aimed at ending new yorks role as an enabler of nationwide lending abuse. This is Bloomberg Businessweek. Jason welcome back to Bloomberg Businessweek. I am jason kelly. Carol and im carol massar. Join us every day on the radio starting at 2 00 p. M. Wall street time. You can also catch up on our daily show by checking out our podcast. Jason and you can find us online at businessweek. Com and through our mobile app. Lets go back to a businessweek story. It was on the cover last november. It was a series of stories and data about the merchant cash advance industry. It brought to light an obscure legal document that turned new yorks court system into a Debt Collection machine. Carol it took a significant turn last week with the signing of a bill by new york governor andrew cuomo. Here is reporter zach miter with the series last year. It was a great series of stories it was five stories you guys. It was five stories you guys wrote about, some great investigative journalism. Remind us what it was all about. Zach the stories were about how this obscure legal instruments called a confession of judgment being used by this cash advance industry. They make very high Interest Rate loans to Small Businesses like pizza parlors and truckers , and plumbers, things like that. How they were using this instrument to essentially be able to unilaterally seize the assets of these businesses whenever they felt like it. A lot of our series was about the abuses of this instrument. You could file these things in Court Without any evidence the borrower was not paying and you could basically immediately seize their bank account and go after their customers. Jason new york essentially became the venue of choice because even if you are outside of new york, it was filed in a certain way in new york you could just go to a court, get a stamp and get your money. Zach thats right. It was a nationwide practice but they were all using courts in new york. Not in new york city, for the most part, but relatively small county clerk offices in places like buffalo. Carol but these confessions of judgment, whats fascinating is the Small Business owner, if you took this loan, you basically signed away your right to have your day in court. With the lender . Zach thats right. It was a little bit like a plea agreement in a criminal case , where you are essentially admitting that you owe this debt. In the case of the cash advances, you signed that as a condition of getting the loan, so before you get the loan, you are admitting youre not paying it back and giving the lender the total latitude to file at any time they want. Carol talk to us about the bill that Governor Cuomo signed. Zach right. So the bill the governor signed last friday ends the practice when it comes to using the new york courts against outofstate debtors. You can still do it against the new york residents, but you cant do it in the rest of the country, which is where 95 of the confessions were filed. Against people in florida and texas. So that is going to go away. Jason why was this able to persist for so long . If you are outside of the cash advance industry, you have got to look at this and say this just is not right. It does not take a lot to say you should not be able to do this. Zach yeah, i agree with you. I think the problem was just that this practice had grown up so quickly in just a few years. Something like 30,000 in just over two or three years. Even though it became extremely common, it was virtually unknown outside of the industry. Even lawyers representing the Small Business owners were flummoxed. They had no idea how to handle this situation because it was so aggressive and no one had heard about it. Carol whats fascinating is you guys did a series of five stories, and led us to a new york city official making almost 2 million being rather aggressive in going after these loans, right . Zach thats right. The other weird part of the story was once you get this judgment entered in some courthouse in upstate new york, you then go to a City Government official in new york city and they are the ones who go and raid the bank account and they get a percentage of whatever they recover. So there are city officials who are still to this day making millions a year working for these predatory lenders. Jason so what happens next from here . Obviously, this is curbing the practice for people outside of new york. They can no longer have this used against them in the state they can no longer have this used against them. In the state of new york, is there some momentum that maybe this practice will be ceased or at least curbed in a more meaningful way . Zach there are discussions of legislation at the federal federal level. There are other possible state legislations that people have talked about. It is not clear if it will go anywhere. There are also investigations with the federal trade commission, the attorney general, and criminal investigators. All looking into some of these abuses. Carol thank you so much, great investigative reporting. We talk about impact journalism, you guys really brought about a change. Great stuff. Thank you. Jason up next, the sex and the city author Candace Bushnell on returning to the singles scene in her new book, is there still sex in the city. That, plus her thoughts on feminism in todays economy. Carol a wideranging conversation. And trouble for tesla. After four years of hype, porsche unveils its electric car. We get an inside look with porsches north america ceo. This is Bloomberg Businessweek. Carol welcome back to Bloomberg Businessweek. I am carol nasser. Jason and i am jason kelly. You can also listen to us on the radio on sirius xm channel 119, and on a. M. 1130 in new york, 106. 1 in boston, 99. 1 f. M. In washington, d. C. Carol a. M. 960 in the bay area, in london on dab digital, and of course, on the Bloomberg Business app. Jason we go outside the magazine to an author who i have to say practically defines the term zeitgeist. We are talking about Candace Bushnell. Carol she wrote sex in the city and the hit hbo series. She wrote a new book and we talk about what has changed for single women in todays economy. Candace when i was in my 30s and i first wrote sex in the city, i was a single women and there werent supposed to be any single women in their 30s. That was 20, 25 years ago. Being single in your 30s was considered whats wrong with you . You have baggage. Why havent you been able to understand how Society Works . Find somebody. That was really the rise of the sex in the city woman. A woman who said im living by different rules for a variety of reasons. I havent found the guy. The sex in the city woman is really the woman who, in the 80s, set out to have it all and do it all. Jason look around at the economy right now. By many accounts, it is booming from a consumer perspective, and yet we talk about it everyday. There are clouds looming on the horizon. Synthesize that with metoo, times up, this moment of questioning the Current Power structure. How does the economy factor into what is happening next for women and for feminism . Candace one thing i noticed was, in 2000, before 2008, it was the time of bridezillas. It was a time where consumerism really felt like it took off. It was also a time where we lifted the debt requirements. People are spending, spending money. They are thinking they are going to have kids, and they are putting the kids in designer clothes, and we see all of this with the celebrities. How many women, actresses, stood up in those times and said i am not a feminist . Really shameful. And then the crash comes and there is a real change. A lot of financial jobs were lost which was predominantly men. I saw personally, a lot of women who kept their jobs and became supporters of their families. We saw a real role reversal in that era. Candace that is something i tried to capture in my book lipstick jungle, where i see more and more women are the breadwinners in the family. That has always been true for lower income women. For lower income women, it might be as high as 40 . And for upper income women, it was 20 , now maybe it is 35 . But that is something that is inching up, along with less marriage and more single people. And in a sense, thats going to be the future for a lot of people. Carol this new book. You are older, dealing with dating again, but also a lot of other things. Candace you call it the new middleage. This, to me, is so zeitgeist because we are all in this time when we are getting older and dealing with lots of different issues. Carol its parents, relationships not working. Candace its also yourself, it is emotionally. It is a time of readjustment for men and women. Carol hear more from our interview with Candace Bushnell. It is in the extra podcast. Staying outside the magazine and going outside our headquarters, we get an inside look at porsches new 150,000 electric car. Jason after four years of hype, the carmaker unveiled the car. Tyk our reporter and auto expert Hannah Elliott joined us for a closer look with porsche north americas ceo. Klaus Niagara Falls as the backdrop, i would say it was spectacular. Other people have to confirm that. We could not be more happy about the reception and the social media picking up noise that we have entered the battery electric vehicle segment with a real porsche. Carol this is a big deal for you guys. Klaus absolutely, yes. We typically work with a family of cars, derivatives within that model line. So expect a few more alternatives, also battery electric, to come within the model line. But, of course, the future is electric. Also with porsche, we think that kind of concept goes very well with sports cars. So we will see more of that. At the beginning of next decade, will have our bsegment suv, also battery. So we are moving into the electric world, but staying with Combustion Engines as well. We will stand on three legs. The typical Combustion Engine people associate porsche with, a plugin hybrid. A mixture of the Combustion Engine and the electric advancements, and then staff. Carol talk to us about how long it takes to charge and how far it can go. I think everybody wonders about that. Klaus acceleration, of course, is something you expect from an ev, but you also expect everyday usability. That talks about range. We have not gotten the final range figures from epa to certify in the United States yet. The wcl figures suggest a range around 450 kilometers. We are pretty happy with that. We did something to come here to new york. We drove down from Niagara Falls. The first trip before we charged the car was 240 miles, and we added another 45 miles on the car. You know, so this is something that, from my point of view, is sufficient, especially if you look at the performance potential with the car. And range anxiety, from my point of view, is going to change. People are going to find out that over 90 of instances where you charge your car are at home or at work. Jason you know the car buyer, the car enthusiast, the driver so well. Where are we in terms of adoption . What moment are we . Klaus i think we are not at the tipping point. People naturally gravitate towards battery electric vehicles. We are at a point where people get more curious about that type of technology. Again, tesla, they have plowed through that environment, and they have started that trend and we have Great Respect for them. Other Car Manufacturers must have answers with their products now. I think we will see electric car sales picking up dramatically. Actually if you want to take porsche as an example, 2025, we say that more than 50 of the cars we sell new will have electric drivetrains, either battery electric vehicle, or a plugin hybrid. Jason Bloomberg Businessweek is available on newsstands now. What is your mustread . Carol must watch, check out that porsche. It is a really an interesting car, a gorgeous car. Very different on the inside from what you have seen. It is a huge effort by the company in its first modern all electric car. Jason and you should check out the pictures on carols twitter feed of us inside the car. Carol yours . I know it is a must listen. Jason Candace Bushnell she really surprised me. It was not the interview i expected. Not the substance or the tone i expected. Very enlightening. She is something. Carol it wasnt all cosmopolitans. There were some deep thinking going on in our conversation. Jason you can find more stories on businessweek. Com. Carol and check out our podcast. Jason more Bloomberg Television starts right now. Here, it all starts with a simple. Hello hi how can i help . A data plan for everyone. Everyone . Everyone. Lets send to everyone [ camera clicking ] wifi up there . Ahhh. Sure, why not . Howd he get out . a camera might figure it out. That was easy glad i could help. At xfinity, were here to make life simple. Easy. Awesome. So come ask, shop, discover at your xfinity store today. David in your career, you won 118 majors, which is the most of anyone. Many think beating your record is possible. Jack i dont know, tiger is pretty good. David in those days, the composition was good, but not compared to today. Jack i was making as much money selling insurance as playing golf. David what makes a great golfer . Concentration . Physical ability . Jack i think winning breeds winning